Fifth Third Bancorp Increases Stake in Urban Outfitters, Inc. $URBN

Key Points

• Fifth Third Bancorp massively increased its Urban Outfitters stake in Q1, buying 52,751 additional shares and lifting its position to 53,241 shares worth about $3.37 million.
• Wall Street sentiment on URBN remains generally positive, with several firms issuing Buy/Overweight ratings and a consensus rating of Moderate Buy; the average target price is $87.
• Urban Outfitters reported better-than-expected earnings for the latest quarter, posting EPS of $1.30 on revenue of $1.48 billion, while insiders including the CFO sold shares in May.

Fifth Third Bancorp grew its stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 10,765.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,241 shares of the apparel retailer's stock after buying an additional 52,751 shares during the period. Fifth Third Bancorp owned 0.06% of Urban Outfitters worth $3,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new stake in Urban Outfitters during the 4th quarter valued at approximately $27,000. Brown Brothers Harriman & Co. raised its holdings in shares of Urban Outfitters by 815.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock worth $28,000 after purchasing an additional 326 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock worth $31,000 after purchasing an additional 149 shares during the last quarter. Spire Wealth Management lifted its position in Urban Outfitters by 83.3% during the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer's stock valued at $33,000 after purchasing an additional 200 shares during the period. Finally, Richardson Financial Services Inc. lifted its position in Urban Outfitters by 90.3% during the fourth quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer's stock valued at $33,000 after purchasing an additional 205 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on URBN. Wall Street Zen raised Urban Outfitters from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Barclays dropped their target price on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, May 22nd. Morgan Stanley reiterated an "overweight" rating and set a $89.00 price target on shares of Urban Outfitters in a research report on Monday, July 6th. Zacks Research raised Urban Outfitters from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their price objective on Urban Outfitters from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Urban Outfitters has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

Insider Activity at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the sale, the chief financial officer directly owned 17,023 shares of the company's stock, valued at approximately $1,249,828.66. The trade was a 22.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 32.10% of the company's stock.

Urban Outfitters Stock Performance

Shares of Urban Outfitters stock opened at $72.98 on Monday. The firm has a market capitalization of $6.25 billion, a PE ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.22. Urban Outfitters, Inc. has a twelve month low of $59.53 and a twelve month high of $84.35. The firm's 50-day moving average price is $71.99 and its 200 day moving average price is $70.18.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.18. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. On average, sell-side analysts predict that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city's historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.

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